Doğan Trend Automotive Maintains Business Volume in 2023 with 45,000 Units Sold
Foreks - Doğan Trend Otomotiv maintained its sales volume of 45,000 units in 2023, having navigated a challenging year. Kağan Dağtekin, CEO of Doğan Trend Otomotiv, stated, “It has been a year where rising costs due to high interest rates and inflation, along with regulatory changes, made it difficult to manage inventories. Although we fell significantly short of our financial targets, we managed to maintain our sales volume and enhance our services to customers through our expanding dealership network. In 2024, we aim to achieve a total of 45,000 unit sales, comprising 26,000 vehicles (23,000 new and 3,000 used), over 16,000 motorcycles, and 1,800 marine engines, thereby slightly breaking our record from the previous year.” Regarding the MG brand, which holds a significant position in their portfolio, he remarked, “In the past three years, we have introduced 35,000 MG vehicles to our customers. With our widespread sales and service network across the country, we continue to develop our expertise in electric vehicles. As of today, we are providing services to 7,000 electric vehicle customers with our certified electric vehicle technicians.”
Touching on production efforts, Dağtekin shared, “We are nearing completion of our motorcycle production project with the KYMCO brand that we announced in 2023. We conducted our first trial production at our facility in Kemalpaşa, İzmir, in December. Soon, we will transition to mass production, gaining production capability as Doğan Trend Group and taking a significant step toward our vision of creating value for our country. Additionally, we have been collaborating with SAIC Motor on an automotive production project of great importance for both our country and our company for over a year now. We have made substantial progress, and we are continuing our efforts with determination. Following an invitation from SAIC's top management, we plan to visit Shanghai on January 10 to advance our project to the next stage. At this phase, we are diligently managing the process with the support and guidance of our Ministry.”
Emphasizing that the automotive market of 2024 thrived robustly due to the convergence of several unpredictable dynamics, Kağan Dağtekin noted, “In 2024, the total market surpassed 1.2 million units including 980,000 cars, setting a new record. The share of 100% electric vehicles (BEV) reached 10%, while plug-in hybrids (PHEV) approached 5%. The year 2025 will be a pivotal moment for BEV+PHEV. We expect the market entry of new products to push the share of BEVs above 15% and PHEVs to significantly reach around 10%. Thus, the proportion of electric vehicles will exceed 25%, clearly reflecting the determination in our country's transition to electric vehicles.”
Reaching planned sales figures in terms of operational volume, Doğan Trend Otomotiv surpassed its own record with a total of 23,300 sales in 2024 through its automotive brands including MG, Suzuki, and Maxus. The Motorcycle Group also achieved over 16,000 sales with brands such as Vespa, Aprilia, KYMCO, Moto Guzzi, Piaggio, Suzuki, and Silence, marking a new milestone. The company also broke a record in marine engines, completing 1,800 sales in 2024. Furthermore, Doğan Trend Otomotiv sold 3,000 used cars and motorcycles in the past year.
The company reached a business volume of 1 billion dollars and initiated motorcycle trial production in İzmir! Kağan Dağtekin mentioned the rapid growth trend with the MG brand in recent years, stating, “In the past three years, we have introduced 35,000 MG vehicles to our customers. We continue to develop our electric vehicle expertise through our widespread national sales and service network. As of today, we have served 7,000 electric vehicle customers with our fully certified electric vehicle technicians. We successfully completed the year 2024 steadily, thanks to the contributions of all our stakeholders and the dedication of our teams. We reached a total sales figure of 45,000 units, parallel to the previous year, and continued to maintain our position in the industry with nearly 1 billion dollars in revenue. These results reflect the trust placed in us, the support of our business partners, and the loyalty of our customers. We regard this success not just as a result of our own efforts but as a product of the synergy we have created together. I would like to sincerely thank all our employees and business partners.”
Kağan Dağtekin emphasized that they have reached another significant milestone for motorcycle production in Turkey, stating, “We are nearing the end of our motorcycle production investment with the KYMCO brand. As of December 24, 2024, we have successfully begun trial production at our Kemalpaşa factory in İzmir. We will soon complete our preparations for mass production, establishing ourselves among local manufacturers. We recognize that we need to invest in production facilities to sustain this growth trend, particularly following the measures and directives taken by our government. SAIC Motor, which also encompasses the MG brand, achieved a global sales total of 4.6 million units in 2024, marking great success. The group’s companies recorded nearly 10% growth year-on-year with a total of 1.2 million units sold in new energy vehicles (NEVs). Despite challenges in the European markets, SAIC Motor’s MG brand made strides in the hybrid electric vehicle (HEV) segment in Europe, achieving over 240,000 units in sales. For the past year, we have been working resolutely with our partner SAIC on the Turkish factory project, making considerable progress. As our efforts continue diligently, we plan to visit Shanghai on January 10 at the invitation of SAIC top management to advance this important project to the next stage, managing the process meticulously with the support and direction of our Ministry.”
2025 is expected to bring even greater opportunities! Regarding the factory investment with MG's partner in Egypt, Kağan Dağtekin commented, “With the Egypt project, which has been under development for approximately two years and has an annual production capacity of 50,000 vehicles, SAIC Motor aims at the Egyptian domestic market as well as some African and Middle Eastern countries. The Egypt factory is not an alternative or a competitor to the Turkish project. Therefore, this project is not related to our investment. Our potential competitors could be countries in Europe and Morocco. We are continuing our work with determination.” Kağan Dağtekin emphasized that the Turkish automotive market reached a high level in 2024 due to the confluence of various unpredictable dynamics, stating, “In the first quarter, vibrant sales due to significant tax advantages and the pre-election activity drove demand upward. In the second quarter, unexpected stock-clearing campaigns before the GSR2 transition created substantial market activity. Starting from the summer months, the decline in sales in Europe led to surplus production being directed to Turkey, creating a significant price pressure and a campaign-heavy period. Additionally, the entry of new players into the market intensified competition, offering consumers attractive discounts and favorable financing options. As a result, despite credit restrictions, consumers took advantage of ongoing campaigns throughout the year. We expect that the total automotive market will range between 800,000 and 1 million, while the motorcycle market is projected to range between 800,000 and 900,000 units in 2025. In the new year, our priority will be to begin motorcycle production while maintaining our position in the market and striving to achieve favorable results in our automotive production project.”